Van ECK Associates Corp Purchases Shares of 36,055 General Mills, Inc. $GIS

Key Points

• Van ECK Associates initiated a General Mills position by purchasing 36,055 shares valued at approximately $1.26 million. Institutional investors and hedge funds collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.95 per share, surpassing estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company issued fiscal 2027 EPS guidance of $3.00–$3.20.
• GIS shares were trading at $38.36 after declining 2.3%; analysts have a consensus “Reduce” rating and an average price target of $39.37. General Mills also maintains a quarterly dividend of $0.61 per share, representing a 6.4% annualized yield.

Van ECK Associates Corp purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 36,055 shares of the company's stock, valued at approximately $1,255,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in General Mills during the second quarter valued at approximately $2,181,608,000. State Street Corp boosted its position in General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company's stock worth $1,700,060,000 after purchasing an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company's stock worth $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock valued at $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company's stock valued at $457,443,000 after purchasing an additional 200,043 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Trading Down 2.3%

GIS stock opened at $38.36 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of -213.10, a PEG ratio of 2.14 and a beta of -0.01. The business's 50-day moving average is $37.85 and its 200 day moving average is $37.24.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business's revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. UBS Group set a $33.00 price target on shares of General Mills in a report on Monday, July 6th. Sanford C. Bernstein cut shares of General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective for the company. in a report on Wednesday, June 3rd. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group restated a "neutral" rating and set a $36.00 target price on shares of General Mills in a research report on Tuesday, June 2nd. Finally, Morgan Stanley cut their price target on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a research note on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $39.37.

General Mills Profile

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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